Well Fitted Italian Restaurant in Kent For Sale

Situated in a parade, excellent prime High Street trading position, residential, office and commercial area, KENT

Turnover £ 8,000
Price £195,000

Features

Well Fitted Licensed Italian Restaurant

5 STAR HYGIENE RATING
£1,200 RENTAL PROFIT

DOUBLE FRONTED PREMISES in the region of 1,050 ft² with bifold doors, industrial non-slip floor, ceiling with spotlights.Tables and chairs providing seating for 50 persons (can be expanded). BAR with seating for 6 persons. 1 draft tap. CCTV system (2 cameras).

KITCHEN with stainless steel extractor unit, 6-burner gas cooker, 2-deck pizza oven, 2-pan deep fryer, grill, microwave, fish fridge, freezer, double sink and drainer, sink, refrigerated making table.

Stockroom with 4 fridges & 2 freezers.

First Floor

Ladies' & gentlemen's toilet with w.c. and wash hand basin

Stockroom

Turnover

WE ARE INFORMED by the owner the turnover currently averages £8,000 p.w. with a gross profit of 65% approx. (10% online sales)

Staff

The business is at present operated by the lady vendor with 2 full time chefs, 1 part time chef plus 1 full time & 3 part time staff.

Trading Hours

7 Day week
MONDAY - SATURDAY 12 noon - 9.30 p.m
SUNDAY 12 noon - 9 p.m

Accommodation

THE SELF CONTAINED ACCOMMODATION with Electric Heaters, at present let on a shorthold tenancy providing a rental income of £2,400 per month. The accommodation comprises:

3 Bedrooms (2 doubles, 1 single)
Lounge
Kitchen
Bathroom with bath, w.c. and wash hand basin

Outside

Parking space for 2 cars

Tenure

WE HAVE BEEN INFORMED BY THE VENDOR that the premises are held on a SECURE RENEWABLE lease from a private landlord, granted for 20 years in 2020 with reviews every 5 years (next review 2025) at a current rent of £27,600 p.a. (As will be appreciated with the current rent of £26,400 p.a. from the flat, the net rent profit at the present time is £1,200 p.a).

Business Rates from April 2023 £4,000 approx. (Please contact local authority to confirm)

THE BUSINESS HAS BEEN IN THE SAME HANDS SINCE 2019 AND IS SOLELY OFFERED FOR SALE DUE TO THE VENDORS OTHER BUSINESS INTERESTS.

Price

TO INCLUDE THE SECURE RENEWABLE LEASE, GOODWILL, FIXTURES & FITTINGS £195,000 plus STOCK AT VALUATION
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT.

Finance

Subject to status, you maybe able to borrow up to £ 97,500 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote